Following up on the Climate Agreement in the National Budget for 2013, the Norwegian government has decided to raise the CO2 tax for the petroleum sector on the Norwegian Continental Shelf by NOK200/tCO2 (€27.07/tCO2), from NOK210/tCO2 (€28.42/tCO2) to NOK410/tCO2 (€55.50/tCO2) from 1 January 2013. It has also been proposed that a CO2 tax of NOK50/tCO2 (€6.77/tCO2) be imposed on the fishing industry.
It has been decided to establish a new fund for climate change mitigation, renewable energy and energy conversion on the basis of the Basic Fund for Renewable Energy and Energy Efficiency. The Government is going to inject NOK10bn (€1,353m) into the fund in 2013, yielding a total fund capital of NOK35bn (€4.4bn), and is going to increase its transfers to the Energy Fund from 2014. The Energy Fund will have a total estimated income of NOK1,836m (€249m) in 2013. Moreover, the Government is going to earmark NOK47m (€6.4m) to boost climate-related research in 2013.
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